If you are a parent who worries about what your wealth will do to your children, you are not alone. Many clients want to leave money to their kids, but they are concerned that their children are ill-equipped to handle sudden wealth. Some worry that by providing too much money that it will rob their children of the ambition and hard work that it took for them to amass the wealth. And it’s not just parents who worry. At least one beneficiary has reservations.

CNN news-show host Anderson Cooper is the son of Gloria Vanderbilt — a successful fashion and interior designer and daughter to the Vanderbilt railroad and shipping empire who is believed to be worth $200 million. Is Anderson chomping at the bit for an inheritance? No. Here is what Anderson said recently in an interview with Howard Stern:

What is your view of inherited money? Is it an “initiative sucker” or can it be used to create a better and more fulfilled life? In my sudden wealth management firm I’ve found that the answer is a resounding YES to both! Yes it can cause some to lose their drive and ambition, but with the proper work and structure, those who inherit can use the money as a tool to create meaningful lives of their own. But for many parents who are not convinced their children are ready to handle wealth, they are not idly sitting by hoping their children have a sudden flash of financial acumen. No, these parents are taking matters into their own hands.

1. Give your kids a financial test. Each person can gift up to $14,000 (in 2014) per year to as many people as they wish without any gift tax consequence. If you are married, both you and your spouse can give $28,000 per person. Parents are gifting their children money without any restrictions or rules and then sitting back and watching what happens. How will your children handle a $5 million inheritance? Why don’t you see what they do with $20,000 first? Do they save it? Do they ask for help? Do they pay off debt? Do they blow it in Vegas?

2. Use incentive trusts. The fear of many parents (and apparently Anderson Cooper) is that too much money can squash ambition and drive. The image that keeps many affluent up at night is the idea that their kids will be robbed of zeal to make an impact – this same zeal and inner drive that pushed them to make their own mark on the world. The solution for many parents is to use incentives within a trust rather than leaving a large inheritance outright. The incentives can be as creative as you can imagine. For example, a common incentive – euphemistically called an “investment banker clause” – calls for trust distributions that match the child’s income. If Suzie makes $75,000 from her job, the trust will distribute to her $75,000 each year. If her younger brother Johnny spends too much time playing Xbox and only makes $22,000 a year, the trust will distribute just $22,000 to him. The built-in incentive with this clause is, of course, to make money. But what if Suzie wants to join the Peace Corps? You can add language that will ensure distributions if your child is involved in a non-profit. Again, the sky is the limit when it comes to drafting who gets what and when. Newport Beach estate planning attorney Cheryl Barrett, says “I often build educational incentives in parents’ and grandparents' trusts that are designed to reward the beneficiaries' educational accomplishments.” For example, the trustee might be directed to disburse $10,000 upon attainment of a Bachelor's degree and $20,000 upon attainment of a Master's or Doctorate degree. While Barrett acknowledges that a degree is not a guarantee of a beneficiary's personal success, she states, “The pursuit of it requires vision, goal setting, and engagement with other motivated individuals, all of which enhance a beneficiary's likelihood of success."